Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
The U.S. Treasuries continued to fall Friday after the Federal Reserve kept its interest rates outlook unchanged in its last monetary policy meeting of this year concluded Wednesday.
The yield on the benchmark 10-year Treasuries climbed 1-1/2 basis points to 2.36 percent, the super-long 30-year bond yields rose nearly 1 basis point to 2.72 percent and the yield on the short-term 2-year traded nearly 1-1/2 basis points higher at 1.82 percent by 10:20GMT.
As expected by everyone, the Fed hiked the target range by 25 basis points to 1.25-1.50 percent. In line with market expectations, the median dots still signal three hikes in 2018 and slightly more than two in 2019. The longer-run dot was unchanged at 2.75 percent. The Fed still says that it is monitoring inflation ‘closely’. The Fed said it will stop commenting on the balance sheet reduction at every meeting and it will just run in the background unless something happens.
In the US, the November industrial production report is due along with the Empire Manufacturing survey for December. As far as the IP data go, firm job growth in the factory sector, as well as a buoyant production index on the ISM survey, suggests that we should see another solid gain in manufacturing output in November.
Moreover, higher crude oil prices are also likely to have incentivized greater activity in the mining sector. All in, our US chief economist Mike Moran looks for a gain of 0.5 percent m/m following growth of 0.9 percent m/m in October.
Meanwhile, the S&P 500 Futures traded 0.16 percent higher at 2,660.35 by 11:05GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -104.27 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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